50 Pfennig - Saalfeld an der Saale

Saalfeld's 1918 iron Notgeld issue appeared as the German war economy had stripped virtually all copper and nickel from domestic circulation, requisitioned for shell casings and industrial war production. Municipal authorities across Thuringia were left to fill the resulting coin void themselves, often contracting local metalworks still operating on whatever materials remained available. Iron was a poor substitute — it corroded readily in pocket wear, which is why survivors in clean condition are less common than mintage figures alone would suggest.